KREADES: what changed
KREADES
Largest movements
- Current investments +€25,782
up €25,782 (+103%), from €25,130 to €50,912
- Tangible fixed assets -€23,429
down €23,429 (-14.7%), from €159,621 to €136,191
of which Land and buildings: -€25,648
- Receivables within one year -€13,178
down €13,178 (-100%), from €13,178 to €0
- Cash -€11,942
down €11,942 (-15.8%), from €75,349 to €63,407
mainly Contributions, distributions and other (-€32,000) and Current investments (-€25,782)
- Reserves -€10,937
down €10,937 (-5.4%), from €203,128 to €192,191
- Current portion of long-term debt -€8,787
down €8,787 (-100%), from €8,787 to €0
- Other debts -€4,580
down €4,580 (-12.4%), from €37,022 to €32,441
- Staff costs -€5,216
down €5,216 (-98.8%), from €5,278 to €61
- Other operating charges -€5,165
down €5,165 (-62.8%), from €8,227 to €3,062
- Taxes +€4,160
up €4,160 (+54.0%), from €7,696 to €11,856
- Depreciation -€3,125
down €3,125 (-10.0%), from €31,104 to €27,980
- Financial charges -€3,043
down €3,043 (-44.4%), from €6,859 to €3,816
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €278,855 | €255,075 | -€23,780 | -8.5% |
| Fixed assets | 21/28 | €162,089 | €138,660 | -€23,429 | -14.5% |
| Tangible fixed assets | 22/27 | €159,621 | €136,191 | -€23,429 | -14.7% |
| Land and buildings | 22 | €153,330 | €127,682 | -€25,648 | -16.7% |
| Plant, machinery and equipment | 23 | - | €4,129 | +€4,129 | |
| Furniture and vehicles | 24 | €6,291 | €4,380 | -€1,911 | -30.4% |
| Financial fixed assets | 28 | €2,468 | €2,468 | = | 0.0% |
| Current assets | 29/58 | €116,766 | €116,415 | -€351 | -0.3% |
| Amounts receivable within one year | 40/41 | €13,178 | €0 | -€13,178 | -100% |
| Other amounts receivable | 41 | €13,178 | €0 | -€13,178 | -100% |
| Current investments | 50/53 | €25,130 | €50,912 | +€25,782 | +103% |
| Cash at bank and in hand | 54/58 | €75,349 | €63,407 | -€11,942 | -15.8% |
| Deferred charges and accrued income | 490/1 | €3,110 | €2,097 | -€1,013 | -32.6% |
| Total equity and liabilities | 10/49 | €278,855 | €255,075 | -€23,780 | -8.5% |
| Equity | 10/15 | €223,128 | €212,191 | -€10,937 | -4.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €203,128 | €192,191 | -€10,937 | -5.4% |
| Distributable reserves | 133 | €203,128 | €192,191 | -€10,937 | -5.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €55,727 | €42,884 | -€12,843 | -23.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €54,661 | €41,817 | -€12,845 | -23.5% |
| Current portion of amounts payable after more than one year | 42 | €8,787 | €0 | -€8,787 | -100% |
| Trade debts | 44 | €3,339 | €1,623 | -€1,717 | -51.4% |
| Suppliers | 440/4 | €3,339 | €1,623 | -€1,717 | -51.4% |
| Taxes, remuneration and social security | 45 | €5,514 | €7,753 | +€2,239 | +40.6% |
| Taxes | 450/3 | €5,514 | €7,753 | +€2,239 | +40.6% |
| Other amounts payable | 47/48 | €37,022 | €32,441 | -€4,580 | -12.4% |
| Accrued charges and deferred income | 492/3 | €1,066 | €1,067 | +€1 | +0.1% |
| Remuneration, social security and pensions | 62 | €5,278 | €61 | -€5,216 | -98.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,104 | €27,980 | -€3,125 | -10.0% |
| Other operating charges | 640/8 | €8,227 | €3,062 | -€5,165 | -62.8% |
| Gross operating margin | 9900 | €67,586 | €66,814 | -€772 | -1.1% |
| Operating profit (loss) | 9901 | €22,977 | €35,711 | +€12,735 | +55.4% |
| Financial income | 75/76B | €926 | €1,024 | +€98 | +10.5% |
| Recurring financial income | 75 | €926 | €1,024 | +€98 | +10.5% |
| Financial charges | 65/66B | €6,859 | €3,816 | -€3,043 | -44.4% |
| Recurring financial charges | 65 | €6,859 | €3,816 | -€3,043 | -44.4% |
| Profit (loss) for the period before taxes | 9903 | €17,043 | €32,919 | +€15,875 | +93.1% |
| Income taxes | 67/77 | €7,696 | €11,856 | +€4,160 | +54.0% |
| Profit (loss) for the period | 9904 | €9,347 | €21,063 | +€11,716 | +125% |
| Profit (loss) for the period to be appropriated | 9905 | €9,347 | €21,063 | +€11,716 | +125% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.